Why this Bitcoin Miner is officially out of the mining game

There’s an interesting thread on BitcoinTalk.org, one of the top Bitcoin forums posted by a miner who is throwing in the towel. In his thread he announces to the community that electricity is too expensive in the country he is in to turn a profit. This is becoming an increasingly common issue amongst miners as Bitcoin’s price hovers around $500 USD.

No More Bitcoin Mining

We are┬ádoing a new series on getting started in the Bitcoin mining world for under $500 and based on what we’ve learned so far it looks like it might be incredibly hard to turn a profit without shelling out more cash.

What do you think? Do you need to have some serious bucks to make money in mining or is there still hope for the little guy? Judging by the fact that this thread was read 3,498 times it’s clear we aren’t the only one asking this question…

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